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CVS coming to Neptune/Sixth in Coney Island

cvs-coney-islandA new retail/residential development currently under construction in Coney Island is starting to attract commercial tenants, according to the property developer.

Cammeby’s International Group, the real estate firm handling Neptune/Sixth, a new mixed-use development going up at 532 Neptune Ave. and 626 Sheepshead Bay Road, announced on Sept. 28 that CVS Pharmacy has signed a lease to occupy a portion of the retail space at 532 Neptune Ave.

Under the lease, CVS Pharmacy will occupy approximately 11,300 square feet of ground-floor retail space in the building.

Until the space is ready, the pharmacy will be temporarily located at the corner of Neptune Avenue and West Sixth Street.

“As a community-oriented development, Neptune/Sixth aims to enhance the area by creating more modern accommodations for existing businesses — like CVS — as well as for new retailers that will add to Coney Island’s vitality,” Jacob Cohen of Cammeby’s said in a statement.

Neptune/Sixth is a redevelopment of the former Trump Village Shopping Center and Royal Palace Baths. The new development will house a variety of services and retail options, while adding new amenities like parking, according to Cammeby’s.

Construction on the development’s first phase, a seven-story, 161,000-square-foot retail and commercial building at 626 Sheepshead Bay Road, is underway and is expected to be completed by the summer of 2017.

Cammeby’s expects to begin work for the retail portion of the Neptune Avenue site this fall.

Winick Realty Group has been retained as the exclusive retail leasing agent for Neptune/Sixth. The Lawrence Group is overseeing leasing for the development’s office space.

At 40 stories, the Neptune Avenue building will be the tallest structure in Coney Island.

Neptune/Sixth was designed by New York-based S9 Architecture.

“In our planning for Neptune/Sixth, we worked to gain a deep understanding of the neighborhood, its residents and businesses,” said Navid Maqami, the design principal at S9 Architecture. “Our goal is to transform the existing fragmented fabric into a vibrant urban place where people can work, shop and live.”

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Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market.

 

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Downtown construction wave resumes, bringing new residential units to 13,000, needing schools

downtown brooklynGive us a school to call our own.

That’s the rallying cry of a group of parents living in newly built apartments in Downtown Brooklyn –  who fear a fresh surge of residential development in the neighborhood will cause acute overcrowding of existing public elementary schools within five years.

“The neighborhood is being built so quickly,”said Chris Young of Downtown Brooklyn School Solutions. “It needs a heart.”

We saw a brigade of bulldozers digging in the dirt at 81 Fleet Place where mayoral candidate John Catsimatidis’ company Red Apple Real Estate is constructing a 205-unit, 15-story rental building. The project will be done at the end of next year and the rental process will probably start in 2015, Red Apple exec Bob Zorn told Eye on Real Estate.

There will be a rooftop area for all the tenants to share, and some units will have their own rooftop patios, he said.

“Daily needs tenants” like day care centers, coffee bars and food markets are showing interest in the retail space planned for 81 Fleet, said Diana Boutross of Winick Realty Group.

For more, download the full article in PDF

Brooklyn Daily Eagle-083013-Downtown construction wave resumes, bringing new residential units to 13,000, needing schools

Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market.

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Near Barclays Arena, BAM and Fulton Mall, comes a new global retail flagship site

1 Flatbush Avenue pics for social media photo 3Resurgence in real estate development in Brooklyn today is creating growth that recalls — and even surpasses — the decades in mid-19th century when Brooklyn consolidated six towns to become an independent city. During the next half-century, which included completion of the Brooklyn Bridge (1883) and the ironic and controversial merger of Brooklyn into greater New York (1897), Kings County enjoyed unprecedented growth several decades into the new 20th Century.

Today, in the new century, it is happening again “in spades”, as a card-player might say.

From a major real estate development group comes news of a new development in a key Downtown site that sits just a stone’s throw from a few of Brooklyn’s most iconic institutions.

Winick Realty Group proudly announced that Capstone Equities has selected Executive Vice Presidents Darrell Rubens and Diana D. Boutross, along with associate Matthew Schuss, to exclusively market more than 14,000 square feet of retail at One Flatbush Avenue. Located at the corner of Flatbush and Fulton, One Flatbush Avenue is situated on the most visible corner in Brooklyn, the third largest market in the United States. With over 200 feet of signage and two floors of retail, One Flatbush Avenue offers an immeasurable opportunity for one brand to plant its flagship at the gateway to Fulton Mall and the Barclays Center.

“The amount of new development that has gone on in this area of Brooklyn is amazing, “said Rubens. “There are more new residences going up around One Flatbush Avenue than ever before and, as a result the streets are teeming with shoppers all day long. It behooves any brand to take advantage of the opportunity available at One Flatbush as this already bustling area is only going to grow stronger in the years to come.”

The retail at One Flatbush Avenue includes 14-foot ceilings on the 7,000-square-foot ground and second floors, in addition to 5,000 square feet in the basement. The store is surrounded by some of the busiest sites in the borough, including the Barclays Arena and BAM, and it is situated at the gateway to the Fulton Mall, the sixth largest shopping street in New York City with more than 100,000 shoppers per day.

More than 78,000 cars pass the site each day, while more than 11,000 people utilize the Nevins Street subway station directly in front. One Flatbush Avenue also sits directly behind Fox Square, a 6,000-square-foot public plaza maintained by the Downtown Brooklyn Partnership, giving brands the unique ability to reach countless pedestrians looking to enjoy the fountain, plantings and movable tables and chairs along the plaza.

With more than 200 feet of double-height wraparound frontage and an illuminated sign that offers more than 8,000 square feet of branding, the retail at One Flatbush cannot be missed by the dense population of professionals, students, residents and shoppers in the area.

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School leases 30,000-sq.ft. space in Gravesend

The YDE School, a religious private school that has been serving more than 400 children for the past two years, has signed a long-term lease to move its facilities to a building at 2533 Coney Island Ave. in Gravesend, according to Winick Realty Group.

The 25,000-square-foot one-story building sits adjacent to an additional 25,000-square-foot parking lot and future development.

“It is unusual for a 50,000-square-foot plot with tremendous air rights and development possibility to come available in Brooklyn like this,” said Zach Mishaan, a Winick Realty Group senior managing director, who represented the new tenant.

“The site will offer them tremendous growth potential for years to come.”

The YDE School signed a 30-year lease for the site, which had been a Ford dealership and repair center for more than 40 years, according to Mishaan.

“As this neighborhood and retail corridor upgrade, it creates further opportunity for beautification,” he said, adding that the strip has not only retail but also other schools and community amenities.

Brian Hanson, director of sales, and Ben Fox, executive vice president of retail leasing at Massey Knakal Realty Services, represented the landlord in the lease transaction.

Set to open for the start of the 2013 school year, the YDE School will start out as a high school and eventually grow to include grades K-12, according to Mishaan.

For more, download the full article in PDF

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Child Care Center Leases Space at 175 Kent Ave.

Winick Realty Group LLC reports that Bright Horizons, a brand of internationally recognized child care centers, has leased its first Brooklyn location in a brand-new residential building at 175 Kent Ave., between North Third and North Fourth streets in  Williamsburg.

The Watertown, Mass.-based company, operating in the U.S., Europe and Canada, also serves as the daycare provider for Chase Bank and has frequently been the only child care organization named by Fortune magazine on its list of the “100 Best Companies to Work for in America.”

The child care center, which will open in 2013, will occupy 2,484 square feet on the ground floor, as well as 18,228 square feet on the lower level, according to Diana Boutross, senior managing director at Winick, who represented landlord The Chetrit Group in this 15-year lease transaction along with Lori Shabtai, executive vice president at Winick.

Bright Horizons was represented by Peter Occhi and Michael Hofmann of Cassidy Turley.

In addition to being at the base of a residential building — with 113 rental units in its seven stories, the Bright Horizons space will be across the street from another rental building and only a few blocks away from a park, noted Boutross, making it a perfect location for a child care center.

“We had a lot of interest in the space, but the landlord wanted to wait for the right tenant and the right use,” she said. “With so many young families moving into the area in recent years, an amenity of this kind will be an amazing addition to Kent Avenue and to Williamsburg.”

For more, download the full article in PDF

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Corner Retail Opportunity Available in Coney Island

Winick Realty Group reports a new listing for a prime retail store space at 1047 Surf Ave. in Coney Island.

The property — a 2,750-square-foot corner store at Surf Avenue and West 12th Street, which can be divided into two spaces of 1,375 square feet each — offers “a rare opportunity to become part of the storied retail landscape of Coney Island,” said Winick’s Elie Dayan, who is marketing the site along with Tatiana Jung, associate director.

“Coney Island draws from all over New York City, with 4.7 million subway riders using the new $300 million train station at Stillwell and Surf avenues, one short block away from our site,” said Dayan, who added, “The ideal retail tenant for the site would be a restaurant that can take advantage of the venting and fixtures left behind by the previous restaurant tenant.

The previous tenant was called Lunch House and included a stand called “Gyro’s.”

The property recently underwent a $200,000 renovation, according to Dayan, which included the gyro stand, as well as new floors, walls, venting, hoods, refrigerator, walk-in box, bar, tables and chairs.  The second floor of the two-story building is home to Magic Jungle, a party place for kids.

In addition to a restaurant, other ideal uses include a souvenir shop, a bicycle shop or a convenience store. Dayan believes these uses would all do well because there is “no shortage of attractions that drive traffic to the area.” He cites the annual Mermaid Parade, Nathan’s Hot Dog Eating Contest and Siren Music Festival, as well as Brooklyn Cyclones games, the New York Aquarium, and the newly built Luna Park and Scream Zone.

“This past season was one of the best Coney Island has seen in the last half decade and it’s only getting better,” he said. “The proposed movie theater and hotel coming to the area will only help bolster the year-round traffic.”

For more, download the full article in PDF

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